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Chip-maker Intel has acquired a substantial part of the workforce and ‘knowledge’ of the Hyderabad-based semiconductor design company, Ineda Systems, for an undisclosed amount.
“The acquisition was done and completed,” Dasaradha Gude, Founder-CEO of Ineda Systems, told BusinessLine .
The serial entrepreneur, however, refused to divulge the total consideration of the deal. “A part of the team, intellectual property is still with us,” he said. The firm is into research and development of automative solutions and Internet of Things (IoT). “There is a huge scope for R&D in the automative and IoT space,” he said.
Industry experts see this acquisition as a tribute to the growing semiconductor ecosystem in the country. The firm had announced plans to open a big technology development centre in Hyderabad. The firm will build a 1,500-engineer-strong team at the centre.
Intel’s Country Head Nivruti Rai, along with a delegation, met the then IT Minister K T Rama Rao last year to discuss the plans.
In 2016, the firm bought Soft Machines, a niche chip design company, for a reported $300 million. The US-based target company incidentally was co-promoted by Hyderabad-based techie Mahesh Linga Reddy.
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